Hi mitta, could be wrong (often am :), but I don't think they...

Hi mitta, could be wrong (often am :), but I don't think they were really interested in absorbing today with the massive supply immediately overhead. However, they've closed it at 59c (pretty much at the bottom of the supply zone up to 61.5c from the past couple weeks). In the context of what's happened recently:

- SPP undersubscribed so banksters got most of the shares at 56c (2.5% discount to 5 day VWAP) which they'll wanna distribute at higher levels. Retailers who didn't take up SPP will kick themselves and probably buy in when they're distributing.

- Announcement today after market saying court hearing which everyone was freaking out about now delayed to end of Jan so the fear required to push down through support doesn't seem to be there anymore.

Seems like a perfect play from the pros. I can imagine with a good night overseas, it will be quite easy for the big boys to gap it up tomorrow over supply and distribute.